Corporate Finance and Business Valuation redefined by Coronation Capital


MAX.ng, Nigeria’s frontline financing and technology platform for mobility, delivering services such as vehicle-financing, electric mobility, logistics, and mobile payments, prides itself on being a company advocating for behavioural change in the Nigerian society. In recognition of the weakening effects of the COVD-19 pandemic, the company has been working actively to bring relief and support to its target communities.

All over the world, COVID-19 pandemic has had a severe impact on lives. Businesses are shutting down and lives have been lost, the world is gradually adapting to a new norm and efforts are being made globally to limit the negative impact of the virus.

In Nigeria, MAX.ng has joined several organizations in playing their part to aid in the fight against the COVID-19 pandemic. The company adopted a systematic approach towards minimizing the negative impact of the pandemic among its communities, employees, customers, and drivers.

MAX.ng, a company founded on Innovation:

MAX.ng is a company founded on the principles of solving problems. It started as a logistics company that was established to solve the infrastructural and delivery challenges some businesses faced in fulfilling orders due to the unending traffic in Lagos, Nigeria’s economic hub. As a forward-thinking company, MAX.ng saw the opportunity of using motorcycles to address these challenges. Its success in this field led to the consideration of how technology could be used to bring sanity to the chaotic scene of motorcycle transportation (popularly called okada). From there, it was just a step and a hop delving into the motorcycle-hailing business as a means of transportation.
Impacting its Communities Positively:

As part of its efforts to contribute positively to communities around it, MAX.ng built the company around the principle of empowering individuals and giving them the means of providing a livelihood for themselves and support their families. It operates a business model that provides vehicle financing where drivers can receive the vehicles and pay back the cost over a period of time. In addition to financing, the company also provides safety training and access to healthcare and insurance for its riders. MAX.ng changed the face of motorcycle transportation in Nigeria and this led to other companies jumping on the bandwagon to follow its model.

In the famous words of Mother Theresa, “I alone cannot change the world, but I can cast a stone across the waters to create many ripples.” MAX.ng has continuously created ripples across its communities by recognizing that a business cannot grow without the communities around it. MAX.ng has actively shown support to its target communities.
The company recently embarked on a CSR campaign around markets in Ibadan, Oyo State, where it distributed parasols to market traders so that they can protect themselves and their wares from the rains and harsh weather. MAX.ng also provided targeted interventions to residents and transport industry workers by providing hygiene products, facemasks and food to over 5,000 beneficiaries across Akure, Ibadan and Lagos.

COVID 19 Initiatives:

As the world experienced the COVID-19 pandemic, which affected the way of life of almost everyone across the country, MAX.ng stepped up to the plate and rolled out systematic approaches to cushion the effects across its operational communities and ensure the safety of lives of its drivers and customers. It embarked on continuous training of its drivers on safe and proper hygiene practices to minimize the risk of infection and to ensure they are not exposed to the virus.

During the pandemic lockdown mandated by the Federal Government, MAX.ng provided a 50% discount to small scale businesses for their deliveries and activated digital wallet and electronic payment features on its mobile app to eliminate the need for cash transactions. The MAX.ng team also visited police stations across the country to provide them with safety kits and sensitize them on COVID-19 protocols. This gesture was also extended to residents within the communities visited.

As part of its safety measures, it provided face masks and hand sanitizers to its riders and ensured that their motorcycles are periodically disinfected. The MAX.ng tech mobility model has also made it easier for business owners to use the platform to sell and deliver their products directly to their customers, thus eliminating the need for physical contact.

The future is bright for MAX:

On its plans for the future, MAX.ng has promised to stay true to its mission of “making mobility safe, affordable, accessible, and sustainable through the deployment of high-performance technology and operators.” The company is currently in talks with different states on how technology can be used to organize the transportation industry in a better way and also tackle the issues of identity management.

Source: Nairametrics

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